318-320 High Street 2,099 SF 100% Leased Retail Building Preston, VIC 3072 $1,217,880 ($580.23/SF)

318-320 High Street represents a flexible and highly visible retail holding in one of Preston’s most frequented commercial arteries. Positioned on a prominent corner with three street frontages totaling approximately 54 meters, the property is zoned as an Activity Centre, enabling a variety of future uses subject to approval. The site spans 364 square meters and includes a building area of 195 square meters, complemented by rear access and on-site car parking—features that are uncommon in this precinct.
The asset is currently leased to two short-term tenants, including a real estate office, generating interim income while preserving future adaptability. Located within a vibrant retail and service hub, the property benefits from significant daily exposure, strong pedestrian traffic, and easy proximity to major amenities such as Preston Market, Northland Shopping Centre, and transport links. This combination of location, accessibility, and redevelopment potential offers a compelling opportunity for investors or owner-occupiers seeking a substantial foothold in Melbourne’s northern growth corridor.